US Dollar Poised to Fall

doitinvest.com nice currencies photo / picture

doitinvest.com nice currencies photo / picture

All the reports released this week conspired against the U.S. dollar value. It all started with the release of the highest unemployment rates since you and I probably were not even born and the things were much worse (or at least this is how the kids think about the year 1949, when there were no playstations and mobile phones around).
But we at doitinvest.com digged a little bit more and found out that all the analysts predict rises of other currencies against the United States all-mighty dollar. BNP Paribas analysts predict that the US dollar might go below its current resistance level to euro, which is a way to say that the euro will go above 1.29 a dollar. UBS reccomends buying swiss francs (CHF) which already appreciated more than 2% in the last two days.
The only exception remains the yen, which despite the reccomendations of the analysts to buy, failed to appreciate substantially. Japan’s currency suffered a sixth-in-a-row loss against the dollar, which is the longest streak since June 2007 of such occurencies. The dollar declined 0.8 percent to $1.2639 per euro at 4 p.m. in New York, from $1.2540 yesterday. It reached $1.2754, the weakest level since Feb. 26. The yen depreciated 0.2 percent to 98.28 per dollar from 98.07 and lost 1 percent to 124.20 versus the euro from 123.
So all over the place it looks like the US dollar is under assault. We at doitinvest.com think however that when the European Central Bank and other bodies will release their own bad economical data, the U.S. dollar might come back. And this does not seem to be far-away…

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